NetOTC says it has launched NetOTC Bilateral, the end-to-end bilateral market infrastructure for the margining of non-cleared OTC derivatives.
NetOTC Bilateral is connecting to Euroclear’s Collateral Highway in an effort to answer the market demand for greater transparency, resilience and addressing the market need for funding, capital and operational cost efficiencies.
NetOTC Bilateral is offered as a dedicated service that works with existing service providers. Robust collateral segregation, optimized calculation and simplified implementation features are enabled by a legal structure that results in funding, capital and operational cost benefits.
The company says that NetOTC Bilateral strengthens IM exchange as it eliminates IM disputes, enables a single daily IM delivery to cover all counterparties, and on default, when collateral is needed most, NetOTC Bilateral provides enhanced claims coverage and ensures that all IM is delivered on the next settlement cycle.
Immediately of the release of this bulletin, NetOTC said that Roger Liddell has been appointed chief executive officer (CEO) with immediate effect, with responsibility for bringing the new platform to market.